Global equity markets continued to retreat, and were down 4.0% on average (down 3.6% in the prior week), as the U.S. Fed and several other central banks raised their benchmark rates last week. As the Fed has signalled additional rate hikes, the US$ was up 4% last week, driving metal prices lower.
Valuations of gold producers were down 5% last week (down 5% in the prior week as well); base metal producers were down 8% (down 5% in the prior week).
The global MCAP of cryptos is US$0.92T, down 5% MoM, and 52% YoY.
Currently, there are 3,369 retail cannabis stores in Canada, a decrease of three stores WoW. There were three new stores each in B.C., Manitoba, and Saskatchewan, and one in New Brunswick. There were also nine closures in Nova Scotia, three in Ontario, and one in Newfoundland. As mentioned in our previous reports, we do not believe the sector is slowing down, rather, we believe there is a shift in store locations, as certain areas are oversaturated.
